Alabama head basketball coach Nate Oats is poised to become one of the highest-paid coaches in the NCAA following his agreement to a contract extension on Friday. The Crimson Tide coach's new deal is slated to be approved by the Alabama Board of Trustees on Monday.
According to a report by ESPN's Jeff Borzello, Oats and Alabama have reached a long-term contract extension agreement. This deal will place Oats among the top five highest-paid coaches in the nation.
“Nate Oats has signed a new contract that will go before the Board of Trustees for approval next week,” Alabama athletic director Greg Byrne said in a statement on social media. “We are excited about the success of our men’s basketball program and Nate's continued commitment to the University. We look forward to him leading our men’s basketball program for many years to come.”
— Greg Byrne (@Greg_Byrne) March 15, 2024
In February of 2023, Oats extended his existing contract by two additional seasons, totaling six years through March 2029. The base salary of this contract started at $4.1 million, increasing by $200,000 each season after the 2024 season. Oats' current buyout stands at $12 million and was projected to decrease to $10 million after the 2024/2025 season and $7 million after the 2025/2026 season. His new agreement with Alabama is anticipated to include a substantial buyout clause.
Over the five seasons as Alabama’s basketball coach, Nate Oats has delivered two SEC regular season and tournament titles. Oats also led the Crimson Tide to a pair of Sweet 16 appearances, as well as the NCAA tournament's overall No. 1 seed last year.
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